War zones have lower unemployment rates than us!

14 November 2017 - 13:08 By Timeslive
Economist Mike Schussler‚ who presented the 16th UASA South African Employment Report said unemployment has been a crisis for more than two decades‚
Economist Mike Schussler‚ who presented the 16th UASA South African Employment Report said unemployment has been a crisis for more than two decades‚
Image: MIKE HUTCHINGS/REUTERS

Five countries in Southern Africa have higher unemployment rates than countries at war such as Iraq‚ Yemen and Libya. All five Southern African Customs Union (SACU) member countries - Botswana‚ Lesotho‚ Namibia‚ South Africa and Swaziland - are in the world top 20 countries for their high unemployment rate.

This is according to economist Mike Schussler‚ who presented the 16th UASA South African Employment Report in Johannesburg today.

He said unemployment has been a crisis in South Africa for more than two decades‚ adding no other country in the biggest 100 economies in the world has had more than two decades of unemployment above 20% constantly.

The expanded definition of unemployment is near its record high with 9‚4 million people who want a job. This is up from 5‚2 million in the early 2000’s. This rate has been mostly over 30% and is now close to 36‚8%.

“Last year the unemployment rate for the whole of Southern Africa was estimated to be 25‚6%‚ but that included Zimbabwe which claims to have an unemployment rate of only 5‚1% and Zambia at 7‚6%.

If unemployment in Zimbabwe were measured correctly‚ I am sure the number would be well over 28%. Even war zones have had lower unemployment rates! For example‚ current estimates of unemployment for Iraq is lower than for SA‚” said Schussler.

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